Fei Wang
Senior Analyst, U.S. Equity Indices, S&P Dow Jones Indices
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Senior Analyst, U.S. Equity Indices, S&P Dow Jones Indices
Fei Wang is Senior Analyst, U.S. Equity Indices at S&P Dow Jones Indices (S&P DJI). Her team is responsible for providing insights and thought leadership on S&P DJI’s U.S. equity index suite, including the S&P 500® and The Dow®, and assisting with the development of new benchmarks for market participants. In her role, Fei works closely with the sales, channel, marketing, and research departments.
Prior to her current role, Fei spent three years as an Economist and Research Analyst at Jerome Levy Forecasting Center LLC in Westchester, NY, a macroeconomic research firm that forecasts total profit trends in the U.S. Fei was also able to leverage her cultural background to help establish a more robust Chinese profits model, analyze nuances in Chinese policies and regulations, and extend research coverage to more Southeast Asian countries.
Fei holds a master’s degree from Carnegie Mellon University in computational finance. She graduated Magna Cum Laude from Mount Holyoke College with Bachelor of Arts in both statistics and international relations.
In the first part of this blog series, we introduced the S&P 500® Top 20 Select Indices, including their construction and relevance to the equity market. Now, let’s delve deeper into the indices’ historical performance and relative performance to other similar indices. Perhaps unsurprisingly, the S&P 500 Top 20 Select Indices all had similar cumulative…
The S&P 500® is widely regarded as the best single gauge of U.S. large-cap equities. Among the 500 companies in the index, the largest names have drawn the most attention due to their outperformance in recent years. To address the increasing interest in mega-cap stocks in the S&P 500, S&P DJI recently launched the S&P…
Chinese investors tend to exhibit high exposures to domestic equities. Incorporating U.S. equities could help Chinese investors diversify their strategies and alleviate home-country bias. For example, the S&P 500® may be relevant for exposure and sensitivity to the U.S. economy. Additionally, market participants seeking to offset domestic equity biases or express tactical views may wish…
After a challenging year in 2022, the U.S. equity market saw a strong turnaround in the first half of 2023, with the S&P 500® up 17% since year-end 2022. Exhibit 1 shows that the rebound was also observed across the cap spectrum. Returns in the second quarter outperformed the first quarter after the market shook…
2022 was a challenging year across asset classes, including equities. Exhibit 1 shows that there were declines across the U.S. equities market cap spectrum. For example, the S&P 500® fell 18% for the whole year; the gains in the fourth quarter were not sufficient to overcome the declines during the first three quarters. Amid the…
GICS® changes are approaching. On Dec. 15, 2022, S&P Dow Jones Indices and MSCI jointly announced a full list of companies affected by the upcoming revisions to the Global Industry Classification Standard (GICS) structure. Although the 2023 GICS changes are not as extensive as the Communication Services sector change in 2018, there are still significant…
The growth of index-based passive investing can be attributed to its transparency, efficiency and low cost, along with active management shortcomings. More recently, buoyed by the growth of direct indexing, there has also been increased demand for indices that select a subset of constituents from underlying benchmarks and are designed to meet specified objectives. S&P…
In Q2 2022, the S&P 500®, S&P MidCap 400® and S&P SmallCap 600® all fell about 15%, continuing the declines from Q1 as of June 30, 2022 (see Exhibit 1). The S&P 500 experienced its worst first half since 1970. Amid the challenging environment, the S&P U.S. Core and Style Indices have generally proved more…
The S&P MidCap 400® is an often-overlooked member of the S&P Composite 1500® series, despite outperforming the S&P 500® and S&P SmallCap 600® since 1994 (see Exhibit 1).1 The mid-cap U.S. equity index also weathered the market volatility slightly better during the first five months of 2022 by falling less than 11%, compared to a…
It has been a tricky start to 2022, with drawdowns in many segments of the equity markets. Stocks have experienced divergent performances amid varied earnings announcements, a surging energy complex, geopolitical risks, and expectations for interest rate hikes from the U.S. Federal Reserve. Though far from the same magnitude, recent returns have been reminiscent of…